Member Info for Phil_2018

Well it seem to be alleged that the same guy that made the loan to FRR, Stephen Hope through Outrider also blocked FRR securing funding to make the necessary payment.

Now Hope may have sent out all sorts of emails to cover he's arse but it's whether he actually blocked the move to secure finance other than he's apparent offering that should really be of most relevance.

Hence supposedly putting FRR into a position where they accept he's funding or default - either way supposedly giving Hope more control over the company. Only option not to fold to Hope being taking thd whole unfair situation to court. I personally think it was the right and only decision. I think Zaza will have the necessary evidence and will sort this out.

Looks to me that now there is people willing to try it on to try and get money out of FRR now they are hitting it big. YA looks like they had a similar stab at it with engineering a false default situation.

I'm kind of hoping that they don't find a new Nomad Advisor too quickly. I think the as yet unexplained loss of the previous Nomad along with the court situation will have unnecessarily spooked some investors. It would probably be better for one to be appointed after the 28th Dec and after we know more on the court situation and any reason why the last Nomad resigned. I think it will be positive news in general on all of this but a new Nomad appointment before any of this is forthcoming risks the share price tanking it unnecessarily on listing recommencement. The company is showing strong progress so it's unfortunate that it's roughing it a bit at the moment. Hopefully a new Nomad will be appointed before the month is out though to get things back on track. I think continued communication to reassure and update investors from Fronterra at thd earliest convenience is needed to calm any worries out there that would otherwise arise.

Was thinking of saying earlier that the resignation of the Nomad Advisor may have come as a surprise to Zaza/Fronterra but everything was so lacking in explanation that it seemed it would be random speculation of little use.

Now we have the company making a statement on on situation via twitter it makes it a whole lot more reassuring for shareholders, for me at least anyway. Being left knowing so little really isn't on and quite disconcerting for shareholders I think as this came as sudden news particularly the timing looked suspicious and I think many of us feared only bad news to come.

By the looks of the announcement Zaza/Frr were as surprised as we all were, essentially they don't know why the Nomad Advisor resigned is what I read it as. Perhaps the Nomad Advisor overreacted to the court case RNS reading more into it than there was, I don't know. In any case looks like this will get straightened out in the coming days.

Again mere speculation but my thought on thd court car us perhaps Hope/Outrider failed to submit a statement or told they could not do by the 18th so hence the extention. Only four more days to find out on that one, two of which are public holidays for us so not long to wait which is a good thing I think.

If so then worse case scenario not so much to worry about perhaps. If it's just limited to their shareholding at stake then us shareholders overall should remain sound.

Just to clarify does anyone know what is the security underlying the notes of Outrider to FRR?

The Nomad Advisor, Cairn, resignation comes as a surprise. It's unfortunate we are not told why but can only assume it is linked to the court case. If they got mixed up in the business somehow then perhaps it was a go or be pushed. Even if the court case goes south I assume FRR are just left with legal costs as they were the ones claiming not being claimed against. To me it looks like it is still ongoing and is just a matter of waiting to see what comes out in the coming days.

I assume a new Nomad Advisor will be appointed shortly. Though theoretically if the company were to be delisted I assume we would all have the same percentage shareholding in the company as a private shareholding since the company would remain. With a lot of oil wells planned and a well financed company I would assume continued trading was assured or at worst a buyout by a major on the table if things went south.

Would be handy to have some comment from Zaza on the released RNS.

I can't believe this share price is so low. We have had good news on the loan front that will allow the development of the oil field. It will allow the drilling of many oil wells which is what it states it will do and is on good loan terms.

The Majors look that they are sat on their hands and this loan/field development looks likely to bring that to a head. It will make it so they have to get off the fence at some point and either get involved or offer a buyout. I think now we are able to develop thd oil field alone with the loan it would have to be a buyout offer. This could come in at any time all of a sudden or in a few weeks time. Once the ball starts rolling on the development of the oil field and the money comes rolling in to enable further wells we will have little need of a JV. There is the gas and perhaps the Majors ate more to do with that but again they need to get on board soon or Fronterra will be able to deal with that themselves also.

My guess is the Majors suddenly got greedy and wanted too much for doing too little. The loan/field development may shift them to being more realistic and to a different position also. I think a buyout offer is more likely now than a JV as a result. It will of course need to be at a good price to be worth any consideration.

Outrider I think has always been a small issue and one that is likely to go Fronterra's way. Today is the final deadline for submission of court papers for both parties. So news could be forth coming over the next few days and if it goes the distance to a court date a few weeks from now.

I really do think though that there is no good reason for this share price being so low. Even nearly all neutral commentators have stated this company has had nothing but good news of late.

With time to reflect more this does indeed look a good deal for FRR. The money will enable the sinking of the many wells needed where the oil is and finish the fracking/exploration of the oil field. It's this well drilling campaign that we were looking to in order to make a significant difference to the company and turn it from a company ambling along with a break even/small profit operation into a company bringing in big profits. So that will be good for shareholders.

Whether the major is in this for the gas, is playing/going to play a part in this oil operation or is standing on the side lines for the omen is not quite clear from this RNS. That is why I think the share price hasn't changed much yet as this is another RNS which raises more questions without answers as yet for shareholders/investors. Aside from that though I think the heart of this RNS is very good news. It means we will be able to drill many wells and access the oil which will be very lucrative :) It will be done without the need of giving away a long term share of tge revenue of day 20 percent or more so is very preferable on that front. Once the drilling is under way, progress can be seen being made and money coming in I think the share price will rise. Of recent these have all been constructive RNS in moving the company forward so it is all positive news. We will just have to sit and wait to see if the Majors will jump in, if not it's not the end of thd world it seems that we will still have a very profit able company on our hands here within a year.

I don't see Outrider court as as a big issue, it's really a side issue. It looks like Fronterra are following necessary due process in pursuing this case as a responsible company should. I'm not sure the $53 million or whatever claim is bankable, it would be down to the court to decide on any payout to FRR. We shall just have to see to my mind though it may not be a claim which a company might want to rely upon to return vast sums of money on a claim so probably better not to wait and to press on with the development of the oil field and adjust finances later when the verdict comes through in the new year.

I'm wondering if one/both Majors might be holding out on us. If they think they can call the shots on FRR then this might be a way of saying we can carry on without them. There certainty seems to be little word on them since the MOU but rather seemingly on FRR going this alone. Maybe this may prompt the Majors into action either to get involved or punt forward a decent buy out offer. I don't think it's bad news just rather more unexpected news. We need more of an idea from Zaza how this whole show is shaping up.

Didn't the RNS say they were pursuing a claim against Outrider for $53m. How so? Zaza/FRR don't seem to be a tge type to do so unless they are compelled to/hold the winning hand.

I still don't think the remaining Major, probably Exxon, will be interested in watching Fronterra develop the field bit by bit. I don't think Zaza is interested in this either. Conversations would likely have been had on this. Exxon has deep pockets so can go straight in with a buyout offer for the whole of FRR once they know the full extent of the reserves it has, oil & gas. At a guess conversation probably went along the lines of 'We know what this field is likely to yield, we know what sort of settlement will satisfy you (around going market rate for a largely undeveloped field with large reserves) We just need the final part of the results from current frack job once that's in we'll take it from there'.To which the reply was probably, 'Great, we want out so that suits us as well'.

That's my reasoning anyway, looking at the situation and moves to date logically thinking it through would suggest such a scenario. Outrider, YA is off no consequence to a company like Exxon it's all talk about spare change to them. They will happily put to bed such issues without need for thought. In any case FRR is pursuing the claim against Outrider so it looks they can only stand to gain, worst case scenario is a few legal bills of no significant nature.

Given the last RNS I'm guessing it will take them a few days to clean the wells then a few days to check well integrity. On top off that perhas a couple of weeks to frack. No drilling or pipe is needed so that will save them time. So perhaps 3-4 weeks or so then results to finish. So probably I'm guessing a preliminary result maybe late December and further results late Jan, early Feb. Probably major will want the six week result just to be sure of reserves before possibly submitting a buyout bid.

So we may be a lot closer on a payout on this one than we might think on this one. This is of course all guesswork but this is what I see as making logical sense of the situation and company announcemens to date.

Been turning over in my mind what the recent mobilisation RNS could mean since it came out. To me it seemed strange that the first RNS since the MOU was not about sinking a load of Wells where the existing oil has been fracked. Then over the last few days it occurred to me that the direction here could likely be on proving up the rest of the field so a total value can be obtained on which a take over bid woukd be based. To me this makes perfect sense that BH are just there to aid FRR prove up the field to the satisfaction of the other industry major (probably Exxon) still under cover of the non-disclosure agreement. They would likely see a tie up between BH of oil revenue for Well sinking work as undesirable same as for the Trust Fund agreement that has been put on hold. It would be messy for them to have the 20 percent or whatever agreements there for a company - BH which they only control a share in but do not fully control. To a company like Exxon it would be more advantageous to be able to buy out the whole lot without any other existing party agreements in place. They can no doubt sink Wells far more cost effectively than a 20 percent oil for revenue deal so they just need a figure for the total value of oil in the field. Fronterra for its part is looking more for a good buyout offer than developing the field as a going concern since it would take quite a time before investors would see any sums like they would get in a good buyout offer. Furthermore Exxon has recently signed an agreement with the Georgian government who it would suit to have a big industry major develop such an oil field in Georgia. I would say the stage is set and we could be set for a take over offer a lot sooner than expected. Perhaps within the next couple of months or so. That's my thoughts on it anyway.

A couple of months is nothing in a NDA, I understand it is quite usual for NDA to carry on for several months, even a year or so. I don't think it will be the case here. The drop of in share price is ridiculous seeing that no bad news has come forth. Essentially we are just waiting for them to work through the field together and reach agreements what deal can be done on each. Both will be committed to getting some business/work done on this front. It's just a case of reaching a deal that suits both parties. Everyone wants the good news quicker than is practical. Two weeks is not a long time to really get concerned about the situation. I think it's a decent situation all in all. There's a decent oil field there so there are going to be interested parties. Neither Major has dropped out so I think it would be safe to assume all is fine and nor second guess how things are.

I think the next info on all of this will will be the agreed drilling programme & deal reached with BH. I think that it is quite possible for that to occur before Christmas. I don't see the remaining Major/Super Major revealing their hand anytime soon, they might but I doubt it. My guess is that they are sitting their waiting for BH to do the service side of things. I think they are linked so the remaining Major will probably remain quiet until several months after Christmas. I think thd remaining Major is very much interested and will not be going anywhere though.

I'm surprised at the current drop in share price though atm. To me it is evident that this company has a lot of potential in the next few months and matters are in progress to move it that way. People should really be getting on board as it seems evident that this company is moving towards a significant drilling program in order to pump out a lot of oil - that means a lot of money to be made. Bahamas Petroleum went up a lot more on news that was far less than we have here. Its been a coupld of weeks since the RNS on the MOU so I think it's only a matter of a bit more time before we get further progress on this one.

My guess is that Baker Hughes were offering the best deal out there as a service provider rather than a producer. The RNS didn't specify the specifics of what Baker Hughes would get back just a share of the revenue - so how much for how long? I'm guessing it's somewhere along the line of the Niko deal for Zaza to rethink that. So perhaps it was a case of a far more preferable deal with BHGE than they would get with a producing super Major. I don't see BHGE as less desirable than a producing super major just more the right fit at this time. I still think it could be the thin end of the wedge with someone like Exxon watching closely from a distance.

Main thing is before long far more oil should be flowing out of the ground bringing a lot more revenue rolling in to FFR. This will turn FFR into a very profitable company and that is good for shareholders. My thought is that is partly why Zaza wanted to strike a deal with YA to get a big final lump payment at teams end as by then a lot of drilling will have been done and pumps pumping the oil out so big revenues to easily pay for it. I think once the drilling commences and people see how much could be made here the share price will rise significantly.

Saw the RNS this morning and to me it said good news but more time to wait. Just how long? My guess would be at least another RNS might come out before Christmas hiving some more details but from the sounds of it, its going to be a case that BHGE & Frontera will work forward from here both on the agreement and the field picking out what to do and when.

In that regards I think it falls short of the 'industry major moves in and immediately sets to work setting up pumping stations throughout the field'. I think that is why the share price hasn't rocketed today as that's the news people are looking for. I think that news sounds like it could come in the next few months with more work put in. I do get the impression though that BHGE could do a lot to bring a lot of oil out and flowing in.

My random speculation here is that the other industry major may well just be Exxon itself. If they hold an interest in BHGE then it could be an effective way of maintaining a NDA over the test results from other industry majors that might then start competing with them. I've personally no idea if that type of thing is allowed, but it would be a clever and sensible move to make by a major if it is.

Main thing I think here is that it looks like both sides are capable of reaching agreements and what we are hoping for is so far starting to materialise.

I personally think FFR's share price is currently undervalued compared to the news out there. There's big reserves of oil and some gas too, it's been proven & drilled. FFR just need a big pump out operation which is what the Majors are interested in.

The YA situation I think was well handled, no big expensive court battle to punish YA just to get the same terms back but instead seen as what's best for the business in this case a preferably repayment schedule.

From the sounds of it, it looks like an agreement could be reached fairly soon with the Majors. With the amount of oil present it certainly looks in everyone's interest to get to an appropriate agreement for all parties to get it out and make a lot of money from it.

Possible for another RNS to come out Monday before the meeting. Like has been said these results are nothing unexpected as importantly progress has been made since then so it's looking forward to further news now.

My thought is that it likely signifies that full results from the wells are imminent and hence with it notice of a deal from the majors whether that be joint venture/farm in or buy out offers. There would be little point holding one otherwise as this is what everyone will be wanting to know. It would likely tie up with the extra testing schedule the majors required which could be estimated to be done any time from the mid to the end of September which we are pretty much at now. So I would expect an announcement on this could be imminent any day now. I think an agreement I principle has likely already been agreed and its just a question of waiting to time out on the well results which by now are probably looking predictably sound now that we are nearer in the end of extended/second time we'll testing. There would be little point waiting on beyond the finish time of this well testing as I see it. I think the meeting will have been arranged to give a good few days after this is all announced to be on the safe side in case of any small delay in the above coming forward but I think ffr are probably pretty confident of timings on this one. That's my thoughts on it anyway.

I think all this stuff with YA is just a side show that inadvertently cropped up unexpectedly. Possibly they got caught out along the way either as a result of their botched extra share demand or a going over of the available shareholding as a result of a possible deal emerging, who knows. I think it will only likely help ffr that these issues over its shares have been discovered and sorting it out should affect the share price positively. I don't think there is any negative there onwards for ffr and nothing to make one think they haven't acted anyway less than honourably after all Zaza and a lot of ffr board members would be underminin their own shareholding by doing anything otherwise. That's my opinion anyway, so just a question of sitting tight for the next few days until full results/possible deal announced I believe.

Richard, in my opinion there are no lies here. Not one but two industry majors would not be involved in talks if there was not genuinely positive results on the oil as we've been getting. The latest operating RNA confirmed that oil flow has been consistent. This oil flow has now been monitored for some months now so is looking good. The volume of oil down there is looking good also. The fact that FRR are paying off borowed money rather than diluting stock is good news also. I don't think both industry majors will walk from this. An agreement may aleady be in agreement pending conclusion of final test results which may be due very soon now. It is also possible that the two industry majors might be in competition with each other in negotiations. It might even end up in a bidding war in a takeover bid. That would be good news for investors. I myself feel it looks best here to be patient and hold. I think this share is about to finally after such a long time going to come to fruition.